Harvest Gold Corporation

Harvest Gold Corporation

March 15, 2007 18:19 ET

Harvest Gold Announces Financing and Option Grant

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 15, 2007) - Harvest Gold Corporation (TSX VENTURE:HVG) (the "Company") is pleased to announce a non-brokered private placement financing of up to 2,000,000 units at a price per unit of $0.15 for gross proceeds of $300,000. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable into one common share for a period of one year from the closing of the placement at an exercise price of $0.20 per share. The financing is subject to regulatory approval.

The proceeds from the offering will be used to accelerate the Company's Rosebud Mine project in Nevada. The Rosebud Mine Project covers the Rosebud Mine property and 54 claims covering approximately 1,115 acres. The property package is in northwest Nevada approximately five miles to the south of the Hycroft mine which produced more than 1,000,000 oz of gold and 2,000,000 oz of silver.

In addition, the Company is pleased to announce that, in accordance with the Company's stock option plan, it has granted to certain of its directors, officers and consultants incentive stock options to purchase up to an aggregate of 1,200,000 common shares exercisable on or before March 15, 2012 at a price of $0.20 per share.

Harvest Gold Corporation is a gold focused exploration company working in Nevada, USA and Manitoba, Canada. In Nevada, the Company is exploring a large generative gold property at Garcia Flats in the South Carlin Trend, an advanced property with a gold-silver resource at the Longstreet Mine, in Northern Nye County, and the Rosebud Mine Project, a past producing mine in northwest Nevada. Harvest is also exploring claims in Manitoba, Canada at the Rice Lake Gold Belt near Bissett and the Rocky Ridge Gold property in the Lac du Bonnet mining district, and is Joint Ventured with Canadian Gold Hunter Corp. (TSX:CGH) at the Assean Lake Gold Project.


Rick Mark, CEO & Chairman

The TSX Venture Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Harvest Gold Corporation
    Keith Patey
    Director of Communications
    Toll Free: 1-866-816-0118 or (604) 986-2020
    (604) 986-2021 (FAX)
    Website: www.harvestgoldcorp.com